As with most industries, advancements in technology and consumer habits have been changing the landscape in which financial institutions engage and provide services to their customers. Industry experts expect certain trends during 2016 that are hallmarks of this evolving environment to continue, such as increased mobile and remote banking and fewer customers actually making the trip to a physical branch.

These experts also anticipate that technology used mostly by larger banks, like remote deposits, chip cards, and support for mobile payments (e.g.
Apple pay), will pick up steam with smaller, regional institutions as these technologies become more engrained in the consumer space. Actual
financial product offerings, though, are generally expected to remain the same. Overall, institutions wanting to keep up with industry trends
should focus their efforts on integrating technologies that provide competitive mobile and remote tools and services for customers who are becoming
more accustomed to having these options available to them; whereas, altering the lineup or structure of products seems to be under much less of a spotlight.

For more information or assistance please contact Patrick Donnelly, Staff Accountant, and member of
Marcum's Financial Institution Services Group.